<PAGE>
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Schedule 13D
Under the Securities Exchange Act of 1934
(Amendment No. 2)*
Isle of Capri Casinos, Inc.
- --------------------------------------------------------------------------------
(Name of Issuer)
Common Stock
- --------------------------------------------------------------------------------
(Title of Class of Securities)
464-592-104
------------------------------------
(CUSIP Number)
Gregory A. Carlin
ISLE Investors, L.L.C.
900 N. Michigan Avenue
Suite 1900
Chicago, Illinois 60611
(312) 915-2800
- --------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications)
March 2, 2000
------------------------------------
(Date of Event which Requires Filing
of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition which is the subject of this Schedule 13D, and is filing this
schedule because of (S)(S)240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the
following box [_].
Note: Schedules filed in paper format shall include a signed original and five
copies of the schedule, including all exhibits. See (S)240.13d-7(b) for other
parties to whom copies are to be sent.
*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter
disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
Page 1 of 7
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13D
CUSIP NO. 464-592-104 Page 2 of 7 Pages
-----------------
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NAME OF REPORTING PERSON
1 ISLE Investors, L.L.C.
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON: 36-4301915
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [X]
(b) [_]
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SEC USE ONLY
3
- ------------------------------------------------------------------------------
SOURCE OF FUNDS*
4
OO
- ------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(D) or 2(E) [_]
5
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
Delaware
- ------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF 0
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
1,430,261 (See Item 5)
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING 0
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
1,430,261 (See Item 5)
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
1,430,261 (See Item 5)
- ------------------------------------------------------------------------------
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
12
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
4.7%
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TYPE OF REPORTING PERSON*
14
OO
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
13D
CUSIP NO. 464-592-104 Page 3 of 7 Pages
-----------------
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NAME OF REPORTING PERSON
1
Gregory A. Carlin
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON:
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [X]
(b) [_]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- ------------------------------------------------------------------------------
SOURCE OF FUNDS*
4
PF
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CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(D) or 2(E) [_]
5
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
United States of America
- ------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF 0
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
1,430,261 (See Item 5)
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING 0
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
1,430,261 (See Item 5)
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
1,430,261 (See Item 5)
- ------------------------------------------------------------------------------
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
12
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
4.7%
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TYPE OF REPORTING PERSON*
14
IN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
13D
CUSIP NO. 464-592-104 Page 4 of 7 Pages
-----------------
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1 NAME OF REPORTING PERSON
Neil G. Bluhm
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON:
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [X]
(b) [_]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- ------------------------------------------------------------------------------
SOURCE OF FUNDS*
4
PF, BK
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CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(D) or 2(E) [_]
5
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
United States of America
- ------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF 0
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
1,430,261 (See Item 5)
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING 0
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
1,430,261 (See Item 5)
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
1,430,261 (See Item 5)
- ------------------------------------------------------------------------------
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
12
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
4.7%
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
14
IN
- ------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
This Amendment No. 2 to Schedule 13D is filed by and on behalf of ISLE
Investors, L.L.C. and the managers of ISLE Investors, L.L.C. (Gregory A. Carlin
and Neil G. Bluhm) (collectively, the "Reporting Persons") and amends the
Schedule 13D (the "Schedule 13D") filed on April 1, 1999 by and on behalf of the
Reporting Persons, as previously amended. Capitalized terms used herein and not
defined herein have the meanings ascribed thereto in the Schedule 13D.
Item 5. Interest in Securities of the Issuer
(a) Paragraph (a) of Item 5 of the Schedule 13D is hereby amended in its
entirety as follows:
As of the date hereof, the Reporting Persons beneficially own in the
aggregate 1,430,261 Shares, which includes 60,636 Shares subject to
warrants owned by ISLE Investors, L.L.C. that are exercisable within 60
days of the date hereof. Based upon (i) the 30,266,239 Shares outstanding
as of March 2, 2000 as set forth in the Company's quarterly report on Form
10-Q for the quarterly period ending January 23, 2000 (the "Third Quarter
2000 Report") and (ii) the 60,636 Shares subject to warrants owned by ISLE
Investors, L.L.C. that are exercisable within 60 days of the date hereof,
these Shares represent 4.7% of the outstanding Shares of the Company. The
Reporting Persons directly own the securities as follows:
<TABLE>
<CAPTION>
Approximate
Percentage
of Shares
Name Shares Warrants Outstanding
---- ------ -------- -----------
<S> <C> <C> <C>
ISLE Investors, L.L.C. 1,369,625 60,636 4.7%
Gregory A. Carlin 0 0 0.0%
Neil G. Bluhm 0 0 0.0%
Total 1,369,625 60,636 4.7%
</TABLE>
Under Rule 13d-3 of the Securities Exchange Act of 1934, Gregory A. Carlin
and Neil G. Bluhm, as managers of ISLE Investors, L.L.C., may be deemed to
beneficially own securities directly held by ISLE Investors, L.L.C. Gregory
A. Carlin and Neil G. Bluhm expressly disclaim beneficial ownership of such
securities.
Page 5 of 7
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(e) Paragraph (e) of Item 5 of the Schedule 13D is hereby amended by adding the
following as the second sentence thereof:
As a result of the increase in the outstanding Shares of the Company
reported in the Third Quarter 2000 Report, as of March 2, 2000 each
Reporting Person has ceased to be the beneficial owner of more than 5%
of the Shares.
Page 6 of 7
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Signatures
After reasonable inquiry and to the best of their knowledge and belief, the
undersigned, as to themselves only, certify that the information set forth in
this statement is true, complete and correct.
Dated: March 10, 2000
ISLE INVESTORS, L.L.C.
By: /s/ Gregory A. Carlin
----------------------
Gregory A. Carlin
Manager
By: /s/ Neil G. Bluhm
------------------
Neil G. Bluhm
Manager
GREGORY A. CARLIN
/s/ Gregory A. Carlin
- ----------------------
NEIL G. BLUHM
/s/ Neil G. Bluhm
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Page 7 of 7
